Michael Schwartz

Michael Schwartz is the editor of Richmond BizSense, and covers banking, lawsuits, finance, M&A and golf. He can be reached at [email protected] or 804-855-1037.

The R&D Dept.: Local Patents for 12.7.11

A ton of local patents this week were issued to VCU, AMF, Phillip Morris, and Hamilton Beach. Plus a patent for a local inventor for a method of collecting healthcare-related debt.

State fair creditor paints grim picture

ArborOne, a South Carolina lender on tens of millions of dollars of bonds owed by the fair, wants the court to let it keep its right to take action, which could include foreclosing on the 360-acre Caroline County property the fair calls home.

Virginia State Fair seeks bankruptcy protection

The nonprofit company that operates the fair filed for Chapter 11 after failing to work out a deal with its lenders to restructure the $83 million it borrowed to develop its new fairgrounds in Caroline County.

Union First Market Bank to exit TARP

Richmond’s biggest bank is paying $35 million to exit the federal Troubled Asset Relief Program, a move it hopes will boost its stock.

A payment pickle

Uncle Sam might be getting even more involved at one local bank.

Lawyer moves up — literally

One of the busiest bankruptcy lawyers in Richmond has jumped to a rival firm, but his daily commute won’t change much.

VCB tries to force Roseland’s hand

As a massive stalled real estate project in Midlothian tries to work its way out of bankruptcy, one of the development’s lenders is eager for some cash.

A major minor league honor

Todd “Parney” Parnell, COO of the Richmond Flying Squirrels, was named the top executive in minor league baseball this week.

Turns out you can put a price on fun

If you can swing a $2.2 million Christmas gift for little Johnny this year, Yang To Hak has the ticket. But don’t expect it to fit under the tree.